Cryptocurrency Price Today: Bitcoin Rises Above $21,000 For The First Time Since November 2022
Cryptocurrency price on January 16 quick take: The global market cap managed to rise above the $1 trillion mark over the weekend but fell behind again.
Bitcoin (BTC) — the world’s oldest crypto coin — managed to climb above the $21,000 mark for the first time since the FTX collapse seen in November last year. Ethereum (ETH) also followed suit, managing to dwell within the $1,500 range on Monday morning. The global crypto market cap managed to surpass the $1 trillion barrier for the first time since November over the weekend, but fell down to the $990 billion range as the week begins. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — all managed to land in the greens.
The global crypto market cap stood at $991.30 billion at the time of writing, registering a 24-hour gain of 1.89 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $21,200.62, registering a 24-hour gain of 1.79 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 17.80 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,570.03, marking a 24-hour gain of 2.81 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.32 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour jump of 2.09 percent, as per CoinMarketCap data, currently priced at $0.08678. As per WazirX, Dogecoin price in India stood at Rs 7.26.
Litecoin (LTC) price today
Litecoin saw a 24-hour gain of 0.76 percent. At the time of writing, it was trading at $87.68. LTC price in India stood at Rs 7,394.99.
Ripple (XRP) price today
XRP price stood at $0.4047, seeing a 24-hour gain of 3.73 percent. As per WazirX, Ripple price stood at Rs 33.70.
Solana (SOL) price today
Solana price stood at $23.28, marking a 24-hour gain of 1.08 percent. As per WazirX, SOL price in India stood at Rs 1,990.
Top crypto gainers today (January 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Frax Share (FXS)
Price: $9.13
24-hour gain: 37.36 percent
Decentraland (MANA)
Price: $0.698
24-hour gain: 22.17 percent
Convex Finance (CVX)
Price: $4.72
24-hour gain: 20.24 percent
Celo (CELO)
Price: $0.7516
24-hour gain: 18.79 percent
Helium (HNT)
Price: $3.13
24-hour gain: 15.59 percent
Top crypto losers today (January 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Zcash (ZEC)
Price: $45.39
24-hour loss: 1.80 percent
Lido DAO (LDO)
Price: $2.19
24-hour loss: 1.21 percent
Fei USD (FEI)
Price: $0.9842
24-hour loss: 1.01 percent
Internet Computer (ICP)
Price: $5.14
24-hour loss: 0.88 percent
eCash (XEC)
Price: $0.00003014
24-hour loss: 0.82 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin had risen above $20,000 for the first time since November when the FTX collapse occurred. BTC began the year at around $17,000 and has grown over 20 percent in the first two weeks. Despite this, it remains at the low end of a bear market compared to the $65,000 level in November 2021. The $20,000 mark, once considered low, may now be seen as a sign of recovery. Additionally, ether is also performing well, with a 20 percent increase year-to-date and nearing $1,500 for the first time since November.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “US Consumer Price Index (CPI) figures can affect the cryptocurrency market. Expected CPI figures are 6.5 percent,If they beat expectations, prices may rise. If they fall short, a sell-off may occur. Bitcoin could potentially rise to $19,000 or fall to $17,500 based on these figures.”
Kunji founder Anurag Dixit offered his take, “The upside rally in the Crypto market inched higher after a favourable CPI print after making a significant move. BTC crossed the $20,000 mark immediately followed by an ecosystem-wide rally."
weTrade founder Prashant Kumar offered his take on the market scenario as well, "After a day of big moves in the green, the cryptocurrency market on Tuesday showed some flat movement. Both Bitcoin and Ethereum held ground and maintained their position above $17,000 and $1,300, respectively. Other currencies including Cardano and Solana also saw big gains over the last week. The market has been reacting positively to the news of easing macroeconomic conditions due to which trading volume is also seeing a jump.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market cap has crossed the $1 trillion mark, thanks to an over 20 percent jump in Bitcoin and Ether prices in just 7 days. This is a strong sign that bulls are returning to the market with US central banks successfully bringing down the inflation and saving the economy from slipping into recession. The current market momentum is expected to continue if the macroeconomic factors remain favourable.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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